Spyder and team, I am not sure how to accurately express my thinking here but I will try as best I can; As one becomes more competent in the mechanical annotation aspects of the system (channels, Gaussians, FTT, etc) It is expectant that his/her ability to listen to what the market is telling them improves as well (the context). Now as of late, when performing the MADA routine, I find myself less and less acquainted with the âOh Shit! - Price just moved against me, time to wash!â mentality and a certain calmness is setting in. Moreover, it seems that the market is whispering certain immediate or short-order outcomes. (of course - what must come next)⦠But "next", in my mind, seems to be moving further out - meaning what the upcoming leg might look like and where it might occur, how strong the move might be, how it may lead to the following next change signal, etc⦠In other words many trades I have been 'seeing' feel like a result of seeing an upcoming series (or sequence of events which must unfold, and it is a failure within the expectant sequence, which tells me change or continuation). This mindset is not always in effect (and most certainly less than more at this stage in my development), but more and more nonetheless. Is this wiring correct or have I wandered into invention or prediction here? In other words, is this a natural progression in thinking and MADA for Jacks technique(s)? I have tried to be very honest with myself and perform frequent self-assessments and it really does not feel like prediction, but rather that "watching the future move into the now" seems to be much more concrete and the "future" seems to be moving further from just the next bar or 2 or 3. Is this a natural developmental progression, or am I deluding myself? To be frank, I was not even fully conscious of this until recently when I was trying to articulate my MADA for posting trades on this thread that I realized there are many factors which are being evaluated in the NOW and the future is somehow being projected as it moves into NOW, and all very dynamically. Problem is, I cannot find the words to fully capture and express it in writing. I have done my best to explain what is going on within my mind, and hopefully it is correctly interpreted here. Any thoughts would be greatly appreciated. EDIT: I feel it is important to note that I inquire not because I am carving every turn and taking 3X ATR (in fact, my debrief is a realization of my lack of skill to extract what the market is offering every day), but rather that my mindset seems to be changing (and at this point in time, it feels rather mystical) and I wanted any counsel and/or admonition based on what I have tried to articulate. Thanks and Happy Holidays!
http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604&perpage=6&pagenumber=1005 second post, well done.
Well here is my inexperience showing itself for all to see, as I stumble all over my words trying to explain myself, Spyder and Jack have stated it as succinctly as possible. At times, it just seems to leave me suspended in my own disbelief Thanks for digging that up nkhoi.
It sounds good! But a better confirmation than anybody's words are, and will be, your trading results and your account's bottom line: "1 entry, 2 reverses, 1 exit, +5.75 Points"
Amen to that! Funny thing about that morning, when I was debriefing I remember thinking to myself: "Self, you had a tidy day but you left alot on the table. Your entry was late, you missed a nice opening retrace, in fact, you were late on all but the 10:51 reverse long..." And THAT reverse was the one where I was anticipating it all the way from my short! In fact, before the short went on I remember thinking "you can sit through this retrace or you can trade it and pick up a few more points." So I hit 'T' then I just sat there and waited for close to 20 minutes kind of "ho-humming" it doing the MADA until the bar came into my channel (which was already sitting there on the screen along with the expected gaussians) and then I hit 'T' again and, as Spyder often said; "rinse, repeat" for the next 5 bars. Nothing anxious about it... Almost anticlimactical. Then I stopped and thought. "Do you realize how powerful this technique is Jay? and you have not even begun to explore the fine level tools yet!" So this weekend I began looking at what I need to work on to become more timely with 'T' reading through this invaluable journal and all of the generous info within. Of course, I still like to lurk about and I find this post: http://www.elitetrader.com/vb/showthread.php?s=&postid=1723960#post1723478 It's all there for the taking folks and Spyder and Jack are giving it away on a gold and silver platter! The profit potential has been referred to as astonishing, but I say it is the charity, which I am witness to, that is astonishing.
It is quite wonderful how they are following in the great American tradition to help those that want to be helped. Also, don't forget they opened the door and you're walking through it. There is quite a bit of work that has to be done and it looks like it is paying off for you now. I agree with what you have tried to explain. great trading. gooch87 Merry Christmas everyone
Exactly a year ago, I looked at a ES chart live for the first time. I had done some equities trades prior to that using Jacks methods. Except for a period of about 4 months when I had to take a break due to a move, it has been an interesting journey. I learn something everyday and I have started seeing the light at the end of the tunnel - the balance is slowly shifting with profitable trades increasing in both the frequency and amount of profit. Having said that the journey is not done, I have a lot to learn. A sincere thank you to Spyder and Jack and everyone that has contributed to making this journey a success. Merry Christmas and Happy New Year to everyone.
Many thanks to all who have contributed to this thread to make this journey worth pursuing. I look forward to continuing the trek! Wishing everybody a Merry Christmas and a very prosperous 2008!
The Journey that gives!!! /<a href="http://www.ProfessionalAnimations.com"><img src="http://www.ProfessionalAnimations.com/GAImage/Animations/Holidays/Christmas/santa/Santa_in_sled.gif" width="330" height="33" border="0" alt="Animations - santa in sled"/></a>/